Colibrys SA, finalises 2nd round of financing

22 November 2002 -- MEMS manufacturer Colibrys SA, Neuchatel, Switzerland, has announced the successful completion of second round financing, raising a total of USD10m in venture capital funding.

All existing VC investors participated including: Aventic, Banexi Ventures, Banque Cantonale Vaudoise, Intel Capital, TAT Investments and attracted new investment from Innoventure Capital an associate of Credit Suisse.

Sean Neylon, CEO of Colibrys said, "We are one of the few company's worldwide that has both the established revenue, breath and maturity of experience necessary to be a leader in the worldwide markets for silicon MEMS components.

"We have made progress in recent years to establish ourselves as one of Europe's leading MEMS manufacturer and our objective is to establish a similar market position in North American and Asian markets."

The creation of Colibrys as an independent MEMS supplier occurred in January 2001, yet another success for CSEM and its spin-off strategy. Employing 125 people, Colibrys undertakes design, development, wafer fab manufacture, packaging and test of MEMS components.

Colibrys is focusing its efforts where market sales growth potential remains very high, especially in professional inertial navigation systems, industrial applications, life sciences, telecommunications networks and avionics.

For further details on Colibrys SA visit their website www.colibrys.com